Judge dismisses challenge to CFTC mutual fund rule

RonaldD. Orol

WASHINGTON (MarketWatch) - A federal district court on Wednesday rejected a challenge to a Commodity Futures Trading Commission rule requiring mutual fund companies that trade in commodities to register with the agency. The rule was challenged by the U.S. Chamber of Commerce and the Investment Company Institute, the lobby group for mutual funds. Dennis Kelleher, CEO of consumer advocacy group Better Markets, said the rule was a victory for financial reform. "Hopefully, the industry will see this as a sign to call off their war on regulation and the regulators," he said.

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